Cadence Capital Management LLC Buys 345 Shares of Zoetis Inc. (ZTS)
Cadence Capital Management LLC increased its position in shares of Zoetis Inc. (NYSE:ZTS) by 0.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 62,851 shares of the company’s stock after buying an additional 345 shares during the period. Cadence Capital Management LLC’s holdings in Zoetis were worth $3,921,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in ZTS. Peddock Capital Advisors LLC bought a new stake in Zoetis during the second quarter worth about $140,000. BB&T Securities LLC increased its stake in Zoetis by 68.5% in the second quarter. BB&T Securities LLC now owns 35,353 shares of the company’s stock worth $2,205,000 after buying an additional 14,377 shares in the last quarter. Blair William & Co. IL increased its stake in Zoetis by 9.6% in the second quarter. Blair William & Co. IL now owns 2,664,027 shares of the company’s stock worth $166,182,000 after buying an additional 233,434 shares in the last quarter. KBC Group NV increased its stake in Zoetis by 400.0% in the second quarter. KBC Group NV now owns 287,345 shares of the company’s stock worth $17,925,000 after buying an additional 229,872 shares in the last quarter. Finally, Douglass Winthrop Advisors LLC bought a new stake in Zoetis during the second quarter worth about $247,000. 92.70% of the stock is currently owned by institutional investors and hedge funds.
Shares of Zoetis Inc. (NYSE:ZTS) traded up 0.16% during midday trading on Monday, hitting $60.85. The stock had a trading volume of 94,289 shares. Zoetis Inc. has a 52 week low of $46.86 and a 52 week high of $63.85. The company has a market cap of $29.76 billion, a price-to-earnings ratio of 34.40 and a beta of 1.02. The stock’s 50-day moving average price is $61.95 and its 200 day moving average price is $58.24.
Zoetis (NYSE:ZTS) last posted its quarterly earnings results on Tuesday, August 8th. The company reported $0.53 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.53. The company had revenue of $1.27 billion for the quarter, compared to the consensus estimate of $1.27 billion. Zoetis had a net margin of 17.50% and a return on equity of 62.49%. The firm’s revenue was up 5.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.49 EPS. On average, equities analysts forecast that Zoetis Inc. will post $2.34 earnings per share for the current year.
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A number of equities analysts have weighed in on ZTS shares. Cantor Fitzgerald set a $75.00 price target on Zoetis and gave the stock a “buy” rating in a research report on Monday, August 14th. Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and set a $62.00 price target on shares of Zoetis in a research report on Monday, August 7th. Deutsche Bank AG downgraded Zoetis from a “buy” rating to a “hold” rating and set a $65.00 price target on the stock. in a research report on Tuesday, July 25th. Stifel Nicolaus reissued a “buy” rating and set a $65.00 price target on shares of Zoetis in a research report on Friday, July 21st. Finally, Cowen and Company set a $70.00 price target on Zoetis and gave the stock a “buy” rating in a research report on Monday, July 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the stock. Zoetis has a consensus rating of “Buy” and an average target price of $64.78.
Zoetis Company Profile
Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. The Company has a business, commercializing products across eight core species: cattle, swine, poultry, sheep and fish (collectively, livestock) and dogs, cats and horses (collectively, companion animals), and within five product categories: anti-infectives, vaccines, parasiticides, medicated feed additives and other pharmaceuticals.
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